The Conventional Loan

We’ve got the right home loan for your needs

What is a conventional loan?

A Conventional home loan can offer great rates and flexible qualifying guidelines. A Conventional loan is also known as a Conforming loan because it conforms to the standards set by Fannie Mae and Freddie Mac—which are two agencies that help standardize the mortgage industry.

Can I qualify for a conventional loan?

Conventional financing appeals to a wide demographic, although it is best suited for those with a good credit score. While you can still qualify with a lower score, there may be higher costs associated with your mortgage.

If you have good credit and money for a down payment, you can take advantage of some great options with a Conventional loan. Be sure to check with your Loan Officer about your specific situation.

How much is the down payment for a conventional loan?

A Conventional loan can require as little as 3% down, making it a great option for those who do not want an FHA loan. While Conventional loans do require mortgage insurance if you are putting less than 20% down, you can cancel the mortgage insurance after your home equity reaches 20%. Even better, Conventional financing does not require Upfront mortgage insurance like an FHA.

If you're ready to start your home buying journey, speaking to a loan officer is a great place to start.

Get pre-qualified now and we'll review your current financial situation and credit score to help you find the best option for you.

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Eagle Home Mortgage, LLC. and Eagle Home Mortgage of California are subsidiaries of Lennar, an S&P 500 real estate and financial services leader. Whether you are buying your first home or your fifth, our focus is to provide you with exceptional customer service and home financing options that are best for your needs.